The branch of economics that studies the economy as a whole. It focuses on aggregate changes in the economy such as gross domestic product ("GDP"), inflation and unemployment.

The MD&A forms part of the Annual Report. It is a discussion and analysis of the comparative financial statements by senior officers of a registrant.

The amount paid by a mutual fund to the fund's investment adviser for its investment portfolio management services.

Securities trading: Difference between the amount of loan advanced by a stockbroker to a speculator and the current value of the securities deposited by him or her with the stockbroker as collateral.

a person exempted under the Securities Act, 2012 from the requirement to be registered;

• senior officer, or promoter of a reporting issuer;


• custodian of assets, shares or units of a collective investment scheme;


• a self-regulatory organisation;


• a designated rating organisation;


• a transfer agent for securities of a reporting issuer;


• a registrar for securities of a reporting issuer;


• the partner of a market actor;


• a contingency fund required under Part III of the Securities Act, 2012;


• a settlement assurance fund required under Part III of the Securities Act, 2012;


• a securities market;


• a clearing agency; or

any other person or member of a class of persons prescribed to be a market actor

The difference between the best bid price and the best offer price.

The market value of a company. It is calculated by multiplying the market price per share by the total number of outstanding shares

Entities who facilitate a market transaction between two other parties.

The deliberate attempt to distort price or artificially inflate trading volumes with respect to a security, commodity or currency with the intent to mislead market participants.

The possibility of losses in an investment due to changes in the market conditions. Market risk is also referred to as "systematic risk". This risk cannot be eliminated through diversification.

The current price at which the security is trading on the market.

when used in relation to an issuer other than a collective investment scheme, a material change is a change in the business, operations, assets or ownership of an issuer, the disclosure of which would be considered important to a reasonable investor in making an investment decision and includes a decision to implement such a change made by the directors of the issuer or other persons acting in a similar capacity

• when used in relation to an issuer that is a collective investment scheme, a material change in the business, operations or affairs of the issuer, the disclosure which would be considered important by a reasonable investor in determining whether to purchase, sell or transfer or continue to hold securities of the issuer, and includes a decision to implement such a change made by the directors of the issuer or the directors of the manager of the issuer or other persons acting in a similar capacity.

When used in relation to the affairs of an issuer or its securities, it is a fact or a series of facts, the disclosure of which would be considered important to a reasonable investor in making an investment decision.

In relation to the securities of a reporting issuer, any material fact or material change that has not been published.

In terms of a bond or other debt instrument, it is the date at which the principal amount of the debt becomes due and payable.

The combination of two or more companies to become one new legal entity.

The branch of economics that studies how individuals and companies make decisions to allocate scarce resources. It focuses on topics such as demand and supply and factors of production.

The average of the bid and offer price of a security.  

Mining is the act of validating blockchain transactions. The necessity of validation warrants an incentive for the miners, usually in the form of coins. In this cryptocurrency boom, mining can be a lucrative business when done properly. By choosing the most efficient and suitable hardware and mining target, mining can produce a stable form of passive income.

(a) an untrue statement of a material fact or material fact or material change

• an omission to state a material fact or material change that is required to be stated or is necessary to prevent a statement that is made from being false or misleading in the circumstances in which it is made.

A macroeconomic policy implemented by the central bank to manage the size and growth rate of the money supply in an economy.

The process used to disguise the illicit source of the proceeds such as money or assets, derived from criminal activity by making such proceeds appear to be from a legitimate source.

The market in which financial instruments with high liquidity and very short maturities are traded. The money market is used by participants as a means for borrowing and lending in the short term. Money market securities include certificates of deposit (CDs), bankers’ acceptances, treasury bills and commercial paper.

A sub-category of Asset Backed Securities. Mortgage Backed Securities are based on or represent an interest in an underlying pool of mortgages. Investors receive interest and principal payments derived from the underlying mortgages.

A debt security issued by local or state government. It is used to raise capital to finance public projects such as schools, roads, airports, seaports and other aspects of the local government district.

An investment vehicle which pools money from investors and purchases various types of securities such as shares, bonds or money market securities based on stated investment objectives. See: Collective Investment Schemes ("CIS")